Chainlink (LINK) has emerged as one of the leading altcoins making a comeback after the East Asian crisis affected the cryptocurrency market. With strong recovery signs, the coin is showing indications of a bullish trend. The key support level at $13 has sparked optimism for Chainlink, potentially rallying beyond $20 despite sideways trading and the looming threat of a death cross.

On the daily chart, LINK has struggled to maintain bullish momentum, often dipping to the crucial $13 support level. With the 50-day Exponential Moving Average pointing downwards, a potential death cross is on the horizon. Despite dropping below the 200-day EMA, Chainlink's bullish momentum has surged, resulting in an impressive 18% spike in the past five days.

This recovery rally has formed a bullish V-shaped reversal, allowing LINK to surpass $15 and trade at $15.475 with a 2.49% intraday gain. As the market continues to recover, investors have an opportunity to consider buying the dip in anticipation of Chainlink's price crossing $20. While optimistic projections suggest a potential rise to $30, caution is advised as a reversal from $16 could lead to a drop back to $13 and potentially even further decline to $8.50.